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Board Approval - 12/20/2016, 4-1 vote
1. S2S Funding Mechanism - Construction Costs Allocation:
Description
Amount
Utility Assessment Fund (20%)
$393,479
Optional Sales Tax Contribution (20%)
$393,479
Property Owner Assessment (27%)
$531,197
SJRWMD to cover up to 33% of the construction costs or $649,240
Board Approval
1b. S2S Funding Mechanism - Impact Fee
Description
Amount
Optional Sales Tax Contribution (100%)
$419,400*
Property Owner -IRC (0%)
$0
Year
Subsidized
Cost
Impact fee paid by IRC
Impact fee/Property
Owner Responsibility
1
100%
$2,796.00
$ 0.00
2
80%
$2,236.80
$ 559.20
3
60%
$1,677.60
$1,118.40
4
40%
$1,118.40
$1,677.60
5
20%
$ 559.20
$2,236.80
6
0%
$ 0.00
$2,796.00
* For existing structures only
5 -Year Sliding benefit
Board Approval
2. Begin implementation of a Phase 1 septic to sewer
assessment project for the construction costs for all
properties both inside the City of Sebastian and
unincorporated county.
o Follow IRC assessment procedures for notifying
benefitting property owners, preparing assessment rolls
and necessary resolutions.
o Hold public meetings for property owners and interested
parties.
Board Approval
3. Approved special, low interest financing rate (2%).
4. Direct staff to formalize bid package and go out for bid.
5. Formalize connection policy for existing structures:
• 5 -year timeline in which to connect (impact fee
subsidy)
6. Direct staff to examine rate structure for the utility.